McGriff requires an estimate of the cost of goods lost by fire on March 9. Merchandise on hand on January 1 was $84,000 Purchases since January 1 were $269,000 freight-in $8,400 purchase returns and allowances, $7,500 Sales are made at 209 above cost and totaled 350,000 to March 9. Goods costing $14,900 were left undamaged by the fire; remaining goods were destroyed. Instructions (a) Compute the cost of goods destroyed. Beginning Inventory Purchase Purchase return and allowance Freight-in Good available for sale Less: estimated cogs estimated ending inventory salvage good destroyed